18th Nov 2016 14:16
LUKOIL REPORTS PRELIMINARY OPERATING DATA FOR THE THIRD QUARTER AND FIRST NINE MONTHS OF 2016
The LUKOIL Group oil production for the third quarter and first nine months of 2016 was 22.5 and 69.3 million tons, respectively.
Oil production dynamics in Russia was positively influenced by start of pilot production on offshore V. Filanovsky and onshore Pyakyakhinskoe fields during the third quarter of 2016, increased production drilling in West Siberia, as well as ramp up of oil production in Timan-Pechora and Urals regions.
Oil production dynamics outside of Russia was influenced by divestment of our share in Caspian Investment Resources Ltd. in Kazakhstan in 2015, as well as a decrease in compensation crude oil volume from West Qurna-2 project in Iraq due to the reimbursement of a larger amount of historical costs in 2015.
Oil production, thousand tons
2Q 2016 | 3Q 2016 | 9M 2015 | 9M 2016 | |
22,279 | 22,527 | Total | 75,275 | 69,301 |
21,370 | 21,560 | Total excluding West Qurna-2 project | 67,717 | 64,824 |
20,495 | 20,660 | Russia | 64,310 | 62,031 |
20,253 | 20,414 | Subsidiaries | 63,774 | 61,317 |
242 | 246 | Share in affiliates | 536 | 714 |
875 | 900 | Outside of Russia | 3,407 | 2,793 |
439 | 533 | Subsidiaries | 1,384 | 1,533 |
436 | 367 | Share in affiliates | 2,023 | 1,260 |
909 | 967 | Compensation oil from West Qurna-2 project | 7,558 | 4,477 |
The LUKOIL Group marketable gas production for the third quarter and first nine months of 2016 was 4.7 and 15.2 billion cubic meters, respectively. Production dynamics was positively influenced by development of projects in Kazakhstan, Azerbaijan and Uzbekistan.
Marketable gas production, million cubic meters
2Q 2016 | 3Q 2016 | 9M 2015 | 9M 2016 | |
5,073 | 4,737 | Total | 14,883 | 15,184 |
3,241 | 2,985 | Russia | 9,886 | 9,595 |
3,220 | 2,969 | Subsidiaries | 9,851 | 9,551 |
21 | 16 | Share in affiliates | 35 | 44 |
1,832 | 1,752 | Outside of Russia | 4,997 | 5,589 |
1,697 | 1,637 | Subsidiaries | 4,554 | 5,209 |
135 | 115 | Share in affiliates | 443 | 380 |
Feedstock processing at the LUKOIL Group refineries for the third quarter and first nine months of 2016 was 17.1 and 49.3 million tons, respectively.
Feedstock processing at refineries, thousand tons
2Q 2016 | 3Q 2016 | 9M 2015 | 9M 2016 | |
16,408 | 17,119 | Total of LUKOIL Group refineries | 47,896 | 49,339 |
9,889 | 11,092 | Russia | 31,379 | 31,029 |
6,519 | 6,027 | Outside of Russia | 16,517 | 18,310 |
5,116 | 5,362 | Oil refining | 13,742 | 14,916 |
1,403 | 665 | Refined products refining | 2,775 | 3,394 |
73 | 80 | Third party refineries abroad | 715 | 245 |
The information in this press release is an estimate of the LUKOIL Group's results in the third quarter and first nine months of 2016 and therefore constitutes forward-looking statements. This information is preliminary and based on information available at the date of this document, and may be revised after statistical, financial, tax and accounting statements become available. The information on the LUKOIL Group's operational results in this press release are subject to many external factors which may cause the actual results to differ materially from those expressed or forecasted in this press release for the third quarter and first nine months of 2016. The LUKOIL Group assumes no obligation to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise, except to the extent required by applicable law.
This document does not constitute or form part of an invitation or inducement to engage in investment activity with, or any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of, the LUKOIL Group, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of, or any investment in, the LUKOIL Group.
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